Senators' Bill Would Cut Greenhouse Gas Emissions 20% by 2030

[Hissyspit]

Source: Bloomberg

Senators' Bill Would Cut Greenhouse Gas Emissions 20% by 2030
Daniel Whitten and Tina Seeley
Wed Jul 11, 12:07 AM ET

July 11 (Bloomberg) -- Power producers, refiners and steelmakers in the U.S. would be required to cut greenhouse gas emissions 20 percent by 2030 under a bill Senators Jeff Bingaman and Arlen Specter will unveil today.

Bingaman, the New Mexico Democratic who chairs the Senate energy committee, and Specter, a Pennsylvania Republican, want polluters to obtain an allowance for each ton of carbon dioxide they pump into the air, according to a draft of the bill obtained by Bloomberg News. Industries initially would be given about half of the credits and have to buy the rest or reduce their emissions. The so-called cap-and-trade system would create a market for trading greenhouse gas permits.

The measure ``represents a mainstream, carefully considered approach,'' said Brooks Yeager, executive vice president of the Climate Policy Center in Washington and a former State Department official during the Clinton administration. ``Because it's economically smart, it's going to achieve quite a lot of traction in the Senate,'' he said.

Growing certainty that burning fossil fuels is heating the Earth has spawned at least five climate change plans in the Senate this year. Some, including a measure backed by California Senator Barbara Boxer, include larger reductions. Bingaman of New Mexico and Specter from Pennsylvania have support from unions and utilities, including American Electric Power Co., the largest U.S. coal consumer.


Read more: http://news.yahoo.com/s/bloomberg/20070711/pl_bloomberg/a5qszkxs2kq

[OneBlueSky]

1. a token, and totally inadequate . . . we need to be pursuing Al Gore's goal of 90% reductions .. n/t

.

[Seabiscuit]

2. I wish we could just rise up and fire these irresponsible a-holes in Congress.

[MasonJar]

3. Won't hack it! We need the 20% by 08!